Wednesday, December 30, 2015

Decred: New Innovative Cryptocurrency or Scam?

An alliance of developers have already begun work on a new cryptocurrency, Decred. The new currency is based upon the same Bitcoin model that was previously used with all other cryptocurrencies. However, Decred is saving the main technical features of Bitcoin and fixing all of the issues that Bitcoin had.

While the only clear contributors to the project are community-based such as are Github users, it can be assumed that the developers have a large amount of experience with Bitcoin development, and may even be the original Bitcoin Core developers.

Decred will serve as a hybridized proof-of-work/proof-of-stake consensus system that allows users to create a balance between proof-of-work miners and proof-of-stake users to develop a much more robust consensus.